MFN News Items – Page 19

iZafe Group AB appoints the Nomination Committee

Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – a leading Life-Science company in healthcare digitalization announces that the company's major shareholders have appointed a nomination committee. iZafe Group AB's major shareholders and group of owners have, in consultation with the Chairman of the Board, Thomas Ahlerup, appointed the following representatives to be part of the Nomination Committee:

Torgny Ander, appointed by Göran Sjönell

Sten Röing, own holding

Peter Werner, appointed by the ownership group Hermansson – Segerström

Thomas Ahlerup, Chairman of the Board, iZafe Group AB

Torgny Ander has been appointed Chairman of the Nomination Committee.

The Nomination Committee's task is to present proposals to the Chairman of the Annual General Meeting, the Board, the Chairman of the Board and auditors prior to the 2021 Annual General Meeting, as well as proposals for fees to the Board members as well as remuneration of auditors.

Shareholders in iZafe Group AB are welcome to submit proposals to the Chairman of the Nomination Committee by e-mail or by post to: iZafe Group AB, Nomination Committee, Grev Turegatan 11A, 114 46 Stockholm.

If you have any questions, please contact:
Torgny Ander:
Thomas Ahlerup:

About Us

iZafe Group is a Swedish med-tech company that develops and markets medical and digital security solutions to create safer drug handling at home. Our digital medicine dispenser Dosell reduces the risk of incorrect medication, increases security for family and relatives and relieves public care personnel. Our products form a holistic concept that facilitates patient medication and gives those who are treated at home better conditions for a happy and safe life.

The company is listed on the NASDAQ First North Premier Growth Market. FNCA Sweden AB is the company's Certified Adviser. Phone: +46 (0) 8 528 00 399. E-mail: . Further information is available at www.izafegroup.com/investorrelations.

iZafe Group AB appoints the Nomination Committee

iZafe Group expands the information provided to shareholders and other stakeholders

Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – a leading Life-Science company in healthcare digitalization announces an expansion of its information provided to shareholders and other stakeholders. As a complement to the communication of important events and regulatory news in accordance with current regulations, the provision of information is expanded with a channel via the website for ongoing updates that are not covered by rules for publication.

The news feed will be available through a separate section at www.izafegroup.com/bolagsuppdateringar.

In regard to this, iZafe Group has brought forward a publication in written form reflecting the Q&A, which was held in connection with the year-end report 2020. Find the Q&A on the website under the heading investor relations. A video that deepens some of the questions will be published, as previously communicated, on the first of March 2021.

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iZafe Group expands the information provided to shareholders and other stakeholders

iZafe Group year-end report, fourth quarter 2020

Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – today February 19, releases its year-end report of the forth quarter 2020.

Read the full report here.

Condensed statement of financial performance

Net sales for the quarter totaled SEK 84 thousand (4,471). Sales for the quarter comprised revenue related to Dosell sales. In previous years, this item also included revenue attributable to the Security business area, which has been sold.

Operating income for the quarter totaled SEK -9,128 thousand (-7,173).

Income after financial items for the quarter was SEK -9,127 thousand (-7,514).

Cash flow for the period was SEK -6,270 thousand (7,462).

Earnings per share for the quarter, basic and diluted, were SEK -0.3 (-0.3).

Equity per share at the end of the period was SEK 0.9 (1.3).

The equity ratio at the end of the period was 84.0 percent (51.4).

Significant events during the year

iZafe Group sold the Security business area, thereby becoming a pure, financially strong life sciences company focused on the Healthcare business area and the medication-dispensing robot Dosell.

As a result of successful pilot projects during the year, iZafe Group’s partners have placed initial orders for 450 medication-dispensing robots for 2021.

iZafe Group’s Italian partner has begun active marketing and negotiations with 2,000 pharmacies in Italy. Equipment that packages medication in sachets has been installed at a number of pharmacies.

A pilot project was initiated with the care service provider Attendo. The goal of the project is to obtain data to make a decision on the potential implementation of the Dosell medication-dispensing robot for use in Attendo’s home services business.

A pilot project was initiated with care service provider TioHundra AB involving 30 medication-dispensing robots. The results will help identify areas where welfare technology can contribute to more efficient and safer operations at TioHundra in Norrtälje Municipality, Sweden.

iZafe Group published a patent application that the company submitted relating to the further development of the Dosell medication-dispensing robot. The application is international and will enable iZafe Group to have patents approved in over 150 countries.

Two pilot projects were initiated in two Finnish municipalities together with partner Vivago. In addition to these initial pilot projects, Dosell will be included in a number of tenders in Finland in 2021.

Cooperation has begun with Doro in Sweden as a direct result of successful collaboration with Doro in Norway.

A partner agreement has been signed with US-based international healthcare company Hippo Technologies to develop an end-to-end medication-dispensing service based around the Dosell medication-dispensing robot.

iZafe Group announced that the company will start delivering a consumer version of Dosell in spring 2021. This strengthens iZafe Group’s position as a leading developer of digital medication dispensing at home by offering hundreds of thousands of patients, relatives and healthcare workers the Nordic region’s first consumer version and the market’s safest, most user-friendly and cost-effective medication-dispensing robot.

Significant events after year-end

In January 2021, iZafe Group raised just over SEK 4 million through the exercise of series TO 8 B share warrants from the rights issue carried out in 2019. The CEO and Board exercised all their share warrants.

The pilot project with care provider Attendo has been completed with good results. A phase of developing Dosell is now underway in close dialogue with Attendo to reach even more users.

Comments by the CEO

The year 2020 was an eventful and exciting year for iZafe Group that was marked by four main issues:
1) creating the structure and foundations for future financing of the business by raising capital at the start of the year and selling the iZafe Security business area;
2) investment in expanding our partner network and collaborating on pilot projects;
3) continuing to develop and adapt Dosell technically and making adjustments for new markets such as Italy and Finland; and
4) managing the effect of the coronavirus pandemic on our market and business.

Despite the significant negative impact, it is encouraging to see that the pandemic has boosted interest in greater patient safety and, for us, the Dosell medication-dispensing robot. Decision-makers and opinion leaders have realized the importance of digitalization in healthcare to provide safer elderly care.

iZafe Security was successfully sold in the middle of the year to free up resources to accelerate the commercialization and internationalization of the Dosell medication-dispensing robot. The sale resulted in iZafe Group becoming a debt-free company with an effective capital structure, paving the way for faster growth both organically and through acquisitions. Following the sale we started working on becoming a leading pure life sciences company within healthcare digitalization in Sweden and worldwide. In January 2021, we raised approximately SEK 4 million from a subscription program in conjunction with the rights issue that we carried out at the end of 2019.

Covid-19
The ongoing global pandemic has had a major impact on public health and the global economy, and there is still uncertainty over when to move from pilot projects to full-scale introduction. Local restrictions on certain markets have affected our ability to interact with customers and a number of pilot projects have experienced delays. iZafe Group adapted quickly to the changes in the market by putting in place digital management lines and methods, including for training of new and existing partners.
I’m pleased with how effectively we have maintained contact with our customers and partners, and that together we have successfully conducted extensive testing and pilot activities. We are seeing increasing demand for digital solutions to ensure the health and safety of the elderly. We are continuing ongoing efforts in product development and improvements to provide even better solutions, while remaining focused on constantly adding new benefits for existing customers and partners.

Dosell launching as a consumer product
As we announced at the end of the year, spring 2021 will see us launch a pure consumer version of Dosell. The very limited test launch carried out over five working days in December showed very significant interest, particularly through the considerable response we saw in the communication channels we used. We are extremely confident about the launch of Dosell Consumer and are developing a new, simplified Dosell service tailored to the private-sector market. The main investments have now been made and development costs will consequently decrease over the current and future financial years. The launch of Dosell Consumer will initially take place through our own e-commerce solution combined with selected partners, primarily pharmacies. At a later stage we will also offer consumer versions in Norway and Finland through our partners.

Partners
Norway
Together with our partner Hepro in Norway we won the largest ever national tender for digital assistive technology. Meanwhile, the deployment of Dosell at around 50 care service providers has started in the first of 30 municipalities in which our partner Doro has already implemented its welfare platform.
Finland
We have initiated three pilot projects in Finland with our partner Vivago, in addition to which Vivago is to include Dosell in a number of tenders during the year. Some 60,000 people in Finland already receive their medication in the form of medication sachets and these are a key target group for Dosell. The number of people in Finland who take medication using sachets is expected to grow sharply over the coming years.
United States
It is especially heartening to have signed an agreement with our first really big international partner, US-based digital health company MyHippo. Together with MyHippo we will develop a service based on the Dosell medication-dispensing robot for customers around the world who use Hippo’s products and platform. We plan to expand the partnership to also include an OEM version of Dosell.
Italy
We are excited about the launch as part of Sempli Farma, a pharmacy-based service that connects attending physicians with users and their relatives through a closed medication-dispensing system. The Italian medication sachets have been validated with Dosell and intensive advanced business discussions are underway with wholesalers and pharmacy chains in northern Italy, representing around 2,000 pharmacies. We can expect to see Dosell in Italian homes in 2021.

Organization
Our employees have adapted quickly to the new reality of working from home and have focused firmly on our objectives, despite the challenges faced. We have invested in bringing in new skills, and welcomed two new colleagues in the autumn who have extensive experience from care service providers TioHundra and Attendo. They have already helped us improve processes to put in place the right conditions to ensure we can provide the support our partners expect.

Summary
We are concluding a phase in which we have gone from product development, identifying sales channels and streamlining the company, to starting 2021 with a strong emphasis on sales through our growing network of partners and other channels. A number of partners have confirmed their confidence in Dosell by making pre-orders corresponding to 450 Dosells with integrated battery, which will be produced on an ongoing basis from the end of Q1. As we begin 2021, we have new, trained partners not only in Sweden and Norway, but also in the US, Finland and Italy. Our partnership strategy will prove its worth in 2021, and we will continue to invest in our business model of selling through partners. iZafe Group’s Dosell Consumer and future patents could revolutionize health care at home, especially for users who want to live safe, independent lives at home for longer.

Our extensive partner network in Sweden and internationally, combined with our launch in the spring of a simplified Dosell service for the consumer market, establishes firm foundations for growth and I am very confident that iZafe Group as a company and Dosell as a product will move into a commercialization phase across a number of markets.

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Q4 2020 year-end report

Board of directors of iZafe Group resolves in favour of offset issue

Stockholm, Sweden – iZafe Group AB (publ) (NASDAQ First North: IZAFE B), a leading Life Science company focused on the digitalisation of healthcare, is announcing that the board of directors of iZafe Group AB (“iZafe” or “the company”) has today resolved to execute a new share issue.

Supported by the authorisation granted by the 2020 annual general meeting, the board of directors has today resolved to execute an offset issue (issue of shares in consideration for debt) directed at Sten Röing, who has a claim against the company of SEK 862,500 in total.

The offset issue will comprise a maximum of 349,190 Class B shares and will increase shares outstanding from 34,078,510 to 3,494,010 divided among 600,000 Class A shares and 34,341,010 Class B shares.

The subscription price for the offset issue will be SEK 2.47 per Class B share. The subscription price corresponds to the volume weighted average price, calculated as the daily volume-weighted price paid on Nasdaq Premier Growth Markets for Class B shares in the company during a period of 10 trading days immediately preceding the date of the board resolution, with a discount of five percent.

The board has elected to waive shareholders’ pre-emptive rights because the offset issue will strengthen the company’s financial position in a timely and cost-effective manner.

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Board of directors of iZafe Group resolves in favour of offset issue

iZafe Group invites shareholders and others to a Q&A session following the publishing of the year-end report

Stockholm, Sweden – iZafe Group AB (publ.) (NASDAQ First North: IZAFE B) – a leading Life Science company specializing in healthcare services digitalization announces the opportunity for shareholders, media, and other stakeholders to ask company-related questions in connection with its year-end report. The report will be available to the public on February 19, 2021 at 08.30 (8:30 a.m.) CET. Questions will be answered by Chief Executive Officer Anders Segerström in a video presentation that will be published on the first of March, 2021 on iZafe's website under the heading Investor Relations.

Please send your questions to before 10:00 (10 a.m.) CET on February 22, 2021. You can also use an online form to send your questions. This form is available on iZafe Group's website, Investor Relations page.

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iZafe Group invites shareholders and others to a Q&A session following the publishing of the year-end report

Pilot project with Attendo comes to a successful end

Stockholm, Sweden – iZafe Group AB (publ) (NASDAQ First North: IZAFE B), a leading Life Science company focused on the digitalisation of medication handling, is announcing the completion of a pilot project with private care provider Attendo. The pilot project ran for two months in Attendo’s home care operations in Uppsala and Norrtälje. A phase of development of Dosell in close dialogue with Attendo is ongoing.

“Overall, the local authorities welcome digital medication dispensing. Patients who care deeply about being independent have taken Dosell as a miracle, as one happy customer in Norrtälje put it. Gathering suggestions for improvements that make it possible for Dosell to reach even more service users was a vital aspect of the project. A phase of testing and development of the new features is ongoing in consultation with Attendo, and we will maintain close dialogue with Attendo to help each other further,” says Anders Segerström, CEO, iZafe Group.

“We have carried out the project and see future potential in the product. Cooperation with iZafe Group went very well and it has been interesting to follow this project. Dosell has had positive effects on the medication management and for those customers who want to be independent, Dosell has been very well received.” says Susanne Åhlander, Assistant Regional Manager, Attendo.

The aim of the project was for the parties involved to answer the following questions:

Are there customer categories in the home care operations whom the product would help?

The product will help customer categories including people with cognitive decline or whose medications must be taken precisely on time, but who are otherwise independent. The Dosell medication dispensing robot improves medication handling. Dosell is a good alternative to quick visits to patients who live far away and allows service users to decide whether want more short visits or fewer, longer and more qualitative visits from home care staff.

There are advantages to not having to drive to all customers to deliver medication. There are also potential coordination gains to be had, in that visiting schedules for home care services are not controlled by the need to distribute medication.

Customers who want to be as independent as possible were highly receptive to the medication dispensing robot when they were introduced to Dosell. The customers who declined said that they did not want to lose the social interaction with home care staff.

Can the product be integrated into existing systems?

iZafe Group provided training of all lead nurses and participating members of staff in each home care operation. Attendo has also had access to support throughout the period. Attendo has suggested adjustments to reach a wider group of service users, which iZafe Group has added to the development plans for Dosell.

Can the product be used in a patient and medication-safe way?

A few features need further adjustment to achieve maximum reliability, but nurses perceive the risks as low. The local operations see no risks linked to use of Dosell by specific patient categories, as their is access to staff who can manage the device.

About Attendo
AB Attendo AB is a listed Swedish company that offers services in elderly care, care for people with disabilities and individual and family care. The company also operates in Finland and Denmark.

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Pilot project with Attendo comes to a successful end

iZafe Group receives proceeds of SEK 4 million from exercise of warrants

In November 2019, iZafe Group AB (publ) (“iZafe” or “the Company”), a leading Life Science company forcused on the digitalisation of medication handling, completed a rights issue in the form of shares and free warrants. The exercise period for the series TO 8 B warrants ran from December 4, 2020 through December 18, 2020 and has thus ended. In total, 1,216,429 series TO 8 B warrants – which equals around 45 percent of the warrants – were exercised.

A total of 1,216,429 warrants were exercised, representing about 45 percent of all warrants, to subscribe for 1,216,429 Class B shares at an exercise price of SEK 3.30 per Class B share. The exercised warrants thus provide iZafe with proceeds of about SEK 4 million before issue costs.

Number of shares and share capital
Exercise of the warrants increases the number of shares in iZafe by 1,216,429 Class B shares, from 32,262,081 to 33,478,510 shares. The share capital increases by about SEK 1,216,429 from about SEK 32,862,081 to about SEK 34,078,510.

The issue entails a dilution effect of the share capital of approximately 3.6 percent and of the number of votes of approximately 3.1 percent.

Advisor
Stockholm Corporate Finance AB is acting as financial advisor, KANTER Advokatbyrå KB as legal advisor and Hagberg & Aneborn Fondkommission AB as issuing agency in connection with the exercise of the warrants.

About Stockholm Corporate Finance
Stockholm Corporate Finance is an independent privately-owned financial advisor offering expert advisory services relating to capital raising, changes in ownership, and mergers, acquisitions and divestments (M&A) for listed and privately held companies and their owners. Stockholm Corporate Finance is the exclusive Swedish partner in the global network M&A Worldwide, which is comprised of 50 M&A advisors and investment banks in 35 countries. Stockholm Corporate Finance is under the supervision of Finansinspektionen (Sweden’s financial supervisory authority) and is a member of industry organization SwedSec Licensiering AB. For more information see www.stockholmcorp.se/eng/.

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iZafe Group receives proceeds of SEK 4 million from exercise of warrants

iZafe Group receives at an early stage pre-orders of 450 Dosell units from its partners

Stockholm, Sweden – iZafe Group AB (publ) (NASDAQ First North: IZAFE B) – a leading life science company focused on the digitalization of medication management, is announcing that it already at an early stage has received in total 450 pre-orders of Dosell units from its partners before 2021. The orders are a result of the new features that have been developed during the past year. Production of the updated version of Dosell will begin during the first quarter of 2021 and deliveries will be carried out successively thereafter.

“We have established a broad partner network in Sweden, Norway, Finland, Italy and most recently in the United States. As previously communicated, we have developed Dosell to become even more user-friendly with the feedback of our partners and their customers. During the first quarter of 2021, production of the new updated version of Dosell will begin and we have thus at an early stage already received 450 pre-orders, which will be delivered in 2021 in pace with the production.” Says Anders Segerström, CEO of iZafe Group.

iZafe Group has in a short time built up increased capacity by establishing a partner network that successfully positioned Dosell as the leading product in drug dispensing. The company has won a number of business deals, signed agreements with new partners and successfully participated in a national procurement of medication dispensing robots in Norway. In addition, a number of pilot projects have been started and implemented with a good response from users and care providers.

“Despite the challenges we, our partners and their customers have faced due to the Covid-19 pandemic, we now see how decision-makers are ready to apply new technology. Our partners have built their organization and created the conditions for a broader sale of Dosell. As our partners note an increasing demand and have learned the product, they want to pre-order the updated version of Dosell at an early stage to be able to deliver quickly. In light of the business we are doing and the pilots that will start next year, we look very positively towards 2021.” Anders Segerström, CEO of iZafe Group, continues.

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iZafe Group receives at an early stage pre-orders of 450 Dosell units from its partners

iZafe Group launches two pilot projects in Finland with its partner Vivago

Stockholm, Sweden and Espoo, Finland – iZafe Group AB (publ) (NASDAQ First North: IZAFE B) – a leading life science company focused on the digitalization of medication management, is announcing the launch of two pilot projects in two Finnish municipalities together with Vivago. In addition to these pilots Vivago will also participate with Dosell in a number of procurements in Finland during 2021.

In connection with iZafe Group's successful verification of Finnish sachets from Finland's largest pharmacy chain University Pharmacy, a broader pilot operation is now being launched in which these are the first two projects. During the autumn, major training initiatives were carried out to prepare for the launch in Finland and to successfully launch the pilot projects where users will try Dosell to ensure safe and compliant medication via sachets.

“The pilot projects in Finland are particularly interesting as Finland is a strategically important market for the iZafe Group as the digitizing of healthcare is making rapid progress there. 60,000 people are already managing their medication with sachets in Finland and these users represents future users of Dosell. This customer group is also expected to grow rapidly over the coming years.” comments Anders Segerström, CEO of iZafe Group.

The outcome of the pilot projects in the municipalities will form the basis for integrating medication via the dispensing of sachets and the digital medication-dispensing robot Dosell to increase safety and security for users and reduce the need for home visits for patients taking medication.

“We have identified the wide customer need for managing medication and ensure safety of the medication, and this is a great opportunity for us to build a co-operation in this field with iZafe Group and University Pharmacy. These first pilots represent the future offering of Vivago, and we are expecting expeditious growth from this market within next years.” Says Niina Vilkas, CEO of Vivago Ltd.

About University Pharmacy
University Pharmacy is Finland’s largest pharmacy chain with 17 pharmacies and an online store ya.fi. It provides 10% of all prescription medicines to the general public in Finland. More than 1000 employees work for a healthier tomorrow. University Pharmacy is owned by Helsinki University and its turnover in 2019 was €355 million. All profit goes into Finnish research and education.

About Vivago
Vivago develops smart safety and wellbeing solutions for preventive care by monitoring users’ health status and wellbeing in real-time, 24/7. The Vivago solution includes all features required for nurse call systems and covers the entire chain of care from home care and assisted living to rehabilitation centers and hospitals. More than 100,000 people use Vivago solutions every single day. Full digitalization of health status monitoring is opening a revolutionary path to changing care delivery from reactive to preventive while tailoring entirely patient-centered and results-driven care.

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iZafe Group launches two pilot projects in Finland with its partner Vivago

Last trading day for series TO 8 B warrants

The exercise period for series TO 8 B warrants issued in connection with the rights issue of units by iZafe Group AB (publ) in November 2019 continues up to and including December 18, 2020. The last day of trading in series TO 8 B warrants on First North Premier Growth is today December 16, 2020. Each series TO 8 B warrant held entitles the holder to subscribe for one new Class B share in iZafe at a price of SEK 3,30 per Class B share. If all the series TO 8 B warrants are exercised, a total of 2,862,129 new Class B shares will be issued, and iZafe will receive proceeds of around SEK 9,4 million before transaction costs.

If your warrants are held by a nominee (in a custodian account like Nordnet or Avanza, an investment savings account (ISK) or endowment policy (KF), you must contact your nominee to subscribe.

If you wish to exercise warrants that are registered in your own name (held in a securities (VP) account), you need to download and complete a Notice of Exercise form (Sw. Anmälningssedel) that can be found at www.hagberganeborn.se or be downloaded directly here.

Note that series TO 8 B warrants will expire and become worthless if the holder does not actively subscribe for shares by December 18, 2020, or alternatively sell their warrants by December 16, 2020.

Advisor
Stockholm Corporate Finance AB is acting as financial advisor, KANTER Advokatbyrå KB as legal advisor and Hagberg & Aneborn Fondkommission AB as issuing agent in connection with the exercise of the warrants.

About Stockholm Corporate Finance
Stockholm Corporate Finance is a Swedish, independent and privately-owned financial advisor which offers financial advisory by taking transaction initiatives, acting in an advisory capacity and assisting with transaction process implementation, working closely with owners, board members and management in listed and privately held companies.

Stockholm Corporate Finance is the exclusive Swedish partner in the global network M&A Worldwide, which is comprised of 46 M&A advisors and investment banks in 38 countries. Stockholm Corporate Finance is under the supervision of Finansinspektionen (Sweden’s financial supervisory authority) and is a member of industry organization SwedSec Licensiering AB. For more Information, see www.stockholmcorp.se /eng/.

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Last trading day for series TO 8 B warrants